SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GALAKATOS NICHOLAS

(Last)

(First)

(Middle)

C/O MPM ASSET MANAGEMENT

200 CLARENDON STREET, 54TH FLOOR

(Street)

BOSTON

02116

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PORTOLA PHARMACEUTICALS INC [ PTLA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/28/2013

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/28/2013		C		39,344	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	39,344	I	MPM Asset Management Investors 2003 BVIII LLC⁽⁵⁾
Common Stock	05/28/2013		C		171,747	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	171,747	I	MPM Bioventures III GmbH & Co. Beteiligungs KG⁽⁵⁾
Common Stock	05/28/2013		C		61,373	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	61,373	I	MPM BioVentures III Parallel Fund, L.P.⁽⁵⁾
Common Stock	05/28/2013		C		136,641	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	136,641	I	MPM BioVentures III, L.P.⁽⁵⁾
Common Stock	05/28/2013		C		2,032,239	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	2,032,239	I	MPM BioVentures III-QP, L.P.⁽⁵⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Series A Preferred Stock	⁽¹⁾	05/28/2013		C			15,642	⁽¹⁾	⁽⁶⁾	Common Stock	15,642	$0.00	0	I	MPM Asset Management Investors 2003 BVIII LLC⁽⁵⁾
Series A Preferred Stock	⁽¹⁾	05/28/2013		C			68,280	⁽¹⁾	⁽⁶⁾	Common Stock	68,280	$0.00	0	I	MPM Bioventures III GmbH & Co. Beteiligungs KG⁽⁵⁾
Series A Preferred Stock	⁽¹⁾	05/28/2013		C			24,400	⁽¹⁾	⁽⁶⁾	Common Stock	24,400	$0.00	0	I	MPM BioVentures III Parallel Fund, L.P.⁽⁵⁾
Series A Preferred Stock	⁽¹⁾	05/28/2013		C			54,323	⁽¹⁾	⁽⁶⁾	Common Stock	54,323	$0.00	0	I	MPM BioVentures III, L.P.⁽⁵⁾
Series A Preferred Stock	⁽¹⁾	05/28/2013		C			807,939	⁽¹⁾	⁽⁶⁾	Common Stock	807,939	$0.00	0	I	MPM BioVentures III-QP, L.P.⁽⁵⁾
Series B Preferred Stock	⁽²⁾	05/28/2013		C			10,710	⁽²⁾	⁽⁶⁾	Common Stock	10,710	$0.00	0	I	MPM Asset Management Investors 2003 BVIII LLC⁽⁵⁾
Series B Preferred Stock	⁽²⁾	05/28/2013		C			46,752	⁽²⁾	⁽⁶⁾	Common Stock	46,752	$0.00	0	I	MPM Bioventures III GmbH & Co. Beteiligungs KG⁽⁵⁾
Series B Preferred Stock	⁽²⁾	05/28/2013		C			16,707	⁽²⁾	⁽⁶⁾	Common Stock	16,707	$0.00	0	I	MPM BioVentures III Parallel Fund, L.P.⁽⁵⁾
Series B Preferred Stock	⁽²⁾	05/28/2013		C			37,196	⁽²⁾	⁽⁶⁾	Common Stock	37,196	$0.00	0	I	MPM BioVentures III, L.P.⁽⁵⁾
Series B Preferred Stock	⁽²⁾	05/28/2013		C			553,204	⁽²⁾	⁽⁶⁾	Common Stock	553,204	$0.00	0	I	MPM BioVentures III-QP, L.P.⁽⁵⁾
Series C Preferred Stock	⁽³⁾	05/28/2013		C			10,658	⁽³⁾	⁽⁶⁾	Common Stock	10,658	$0.00	0	I	MPM Asset Management Investors 2003 BVIII LLC⁽⁵⁾
Series C Preferred Stock	⁽³⁾	05/28/2013		C			46,526	⁽³⁾	⁽⁶⁾	Common Stock	46,526	$0.00	0	I	MPM Bioventures III GmbH & Co. Beteiligungs KG⁽⁵⁾
Series C Preferred Stock	⁽³⁾	05/28/2013		C			16,625	⁽³⁾	⁽⁶⁾	Common Stock	16,625	$0.00	0	I	MPM BioVentures III Parallel Fund, L.P.⁽⁵⁾
Series C Preferred Stock	⁽³⁾	05/28/2013		C			37,016	⁽³⁾	⁽⁶⁾	Common Stock	37,016	$0.00	0	I	MPM BioVentures III, L.P.⁽⁵⁾
Series C Preferred Stock	⁽³⁾	05/28/2013		C			550,530	⁽³⁾	⁽⁶⁾	Common Stock	550,530	$0.00	0	I	MPM BioVentures III-QP, L.P.⁽⁵⁾
Series D Preferred Stock	⁽⁴⁾	05/28/2013		C			2,334	⁽⁴⁾	⁽⁶⁾	Common Stock	2,334	$0.00	0	I	MPM Asset Management Investors 2003 BVIII LLC⁽⁵⁾
Series D Preferred Stock	⁽⁴⁾	05/28/2013		C			10,189	⁽⁴⁾	⁽⁶⁾	Common Stock	10,189	$0.00	0	I	MPM Bioventures III GmbH & Co. Beteiligungs KG⁽⁵⁾
Series D Preferred Stock	⁽⁴⁾	05/28/2013		C			3,641	⁽⁴⁾	⁽⁶⁾	Common Stock	3,641	$0.00	0	I	MPM BioVentures III Parallel Fund, L.P.⁽⁵⁾
Series D Preferred Stock	⁽⁴⁾	05/28/2013		C			8,106	⁽⁴⁾	⁽⁶⁾	Common Stock	8,106	$0.00	0	I	MPM BioVentures III, L.P.⁽⁵⁾
Series D Preferred Stock	⁽⁴⁾	05/28/2013		C			120,566	⁽⁴⁾	⁽⁶⁾	Common Stock	120,566	$0.00	0	I	MPM BioVentures III-QP, L.P.⁽⁵⁾

Explanation of Responses:

1. Upon the closing of the Issuer's initial public offering, each share of Series A Preferred Stock automatically converted into 1 share of Common Stock for no additional consideration and had no expiration date.

2. Upon the closing of the Issuer's initial public offering, each share of Series B Preferred Stock automatically converted into 1 share of Common Stock for no additional consideration and had no expiration date.

3. Upon the closing of the Issuer's initial public offering, each share of Series C Preferred Stock automatically converted into 1 share of Common Stock for no additional consideration and had no expiration date.

4. Upon the closing of the Issuer's initial public offering, each share of Series D Preferred Stock automatically converted into 1 share of Common Stock for no additional consideration and had no expiration date.

5. MPM BioVentures III GP, L.P. and MPM BioVentures III LLC ("MPM III LLC") are the direct and indirect general partners of MPM BioVentures III, L.P., MPM BioVentures III-QP, L.P., MPM BioVentures III GmbH & Co. Beteiligungs KG and MPM BioVentures III Parallel Fund, L.P. Dr. Galakatos is a Series A member of MPM BioVentures III LLC and Manager of MPM Asset Management Investors 2003 BVIII LLC and shares voting and dispositive power over the shares held by MPM BioVentures III, L.P., MPM BioVentures III-QP, L.P., MPM BioVentures III GmbH & Co. Beteiligungs KG, MPM BioVentures III Parallel Fund, L.P. and MPM Asset Management Investors 2003 BVIII LLC. Dr. Galakatos disclaims beneficial ownership of the shares identified in this footnote except to the extent of his respective proportionate pecuniary interest in such shares.

6. The shares do not have an expiration date.

Remarks:

	/s/ Sally A. Kay, as attorney-in-fact	05/28/2013
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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